Your first home
Navigating the journey to homeownership can be overwhelming, but we're here to simplify the process. Our tailored mortgage solutions are designed specifically for first-time buyers, ensuring you find the right loan to suit your needs.
Guides for first home buyers
Buy your first home with just $25,000
Mastering homeownership: The “Act As If” strategy
Financial preparation for your first home purchase
Calculators
How much can I borrow?
Get insights into your borrowing capacity.
Calculate your loan repayments
Understand your monthly repayment obligations.
Additional calculators and tools
Explore our collection of calculators and tools created to assist you in planning effectively.
Ready to take the leap?
Speak to our experts today for personalised guidance.
FAQs
Here are answers to common questions first-time buyers often ask when purchasing a home.
Typically, you will need a deposit of at least 5-20% of the property's purchase price. A larger deposit can help you avoid Lenders Mortgage Insurance (LMI). It's essential to assess your financial situation to determine what you can afford.
Lenders Mortgage Insurance (LMI) is a one-off fee that protects the lender if you default on your loan. It is usually required if your deposit is less than 20%. Understanding LMI can help you plan your finances better.
The steps include assessing your budget, getting pre-approval, searching for properties, making an offer, and completing the settlement. Each step is crucial to ensure a smooth buying process. Consider consulting with a mortgage broker for tailored advice.
Closing costs are fees associated with finalising a real estate transaction, including stamp duty, legal fees, and inspection costs. These can vary significantly based on the property's location and price. It's important to budget for these expenses in addition to your deposit.
Yes, first-time home buyers may be eligible for various government grants and schemes. These can help reduce the financial burden of purchasing a home. Check with your local government for specific programs available in your area.